Vietnamese and Lao companies will cooperate in building a hi-end resort on Tuan Chau island in the northern province of Quang Ninh.
To this effect, a memorandum of understanding (MoU) was signed between Chairman of the Tuan Chau Group Dao Hong Tuyen and Director General of Laos’ Chitchareun Corporation Somvang Vongvilay in Vientiane on August 16.
Under the deal, work on the 4-ha resort will start on October 2013.
Earlier, the Tuan Chau Group Chairman was received by Lao Deputy Prime Minister Somsavad Lengsavath, who spoke highly of Vietnamese businesses’ investment in Laos.
He also described the signing of the MoU as a contribution to deepening investment cooperation between the two countries.
For his part, Tuyen promised that he will do his utmost to ensure the project is implemented in the most effective way, helping foster the Vietnam-Laos traditional friendship, special solidarity and comprehensive cooperation.-VNA